191 West George Street, NFU Mutual’s landmark office development in Glasgow city centre, has secured an occupier for the last remaining floor, resulting in the recently refurbished building becoming fully let.
RSA Group, a multinational general insurance company, has taken the entire third floor, extending to over 15,000 sq ft, on a ten year lease at a rental of £31.00 per sq ft. The firm is relocating from existing premises in Alexander Bain House on York Street in the city and is due to take occupation on X following a period of fitting out.
In July it was announced that Hilton Worldwide Ltd acquired the lower three floors, joining existing tenants in the building Hewlett Packard, which operates from the fifth floor, and Edrington-Beam Suntory, the first occupier to move in and based on the fourth floor. Once all new tenants take occupation, the building will be home to over 600 highly skilled employees.
Tom Foley, NFU Mutual asset manager, commented: “We’re thrilled that only 18 months after completion of the refurbishment project the building is now at full occupation. It is testament to the quality of the space and the unrivalled location in Glasgow’s city centre.
“RSA Group wanted to move into a single, efficient and open plan floor plate in a central location with easy access to a host of public transport options and a wide range of amenities, so 191 West George Street ticked all of its boxes. We also managed to achieve a new headline rent for refurbished Grade A space in Glasgow so all in all we’re delighted.”
The £5.5million refurbishment project by NFU Mutual completed last year and created 87,000 sq ft of Grade A office space over six levels with virtually column-free floorplates.
Spring 4 Properties acted for RSA Group in the transaction whilst joint letting agents Knight Frank and JLL represented NFU Mutual.